Photo: Pradeep Gaur/MintNew Delhi: ITC Ltd’s consumer goods business presents the “maximum potential for value creation in the future”, the cigarette-maker’s newly appointed chief operating officer (COO) Sanjiv Puri said on Thursday in one of his first interviews. Deveshwar spearheaded the drive into the packaged consumer goods market to derisk ITC from its over-dependence on the cigarettes business. At some point, Puri expects the consumer goods business to be taken abroad, too, but clarified that there were no immediate plans to do so. It said it expected ITC’s consumer goods business to grow at a compound annual growth rate of 12.6% over the next two years. Speaking about ITC’s cigarette business, Puri confirmed that there were small gains in sales by volume in the June quarter, but they could at best be described as “stabilization”.

Source: Mint September 01, 2016 20:48 UTC